2+ Bedroom New Construction Homes for Sale in Portland, OR Under $400K
There are 9 homes for sale in Portland, OR, with 2 to 4 bedrooms, 2 to 3 bathrooms, and 970 to 1,632 square feet of living space. Displayed asking prices range from $340,000 to $399,900, and build years from 2021 to 2026. The largest, at 31 Northeast 134th Place, offers 4 bedrooms and 1,632 square feet for $340,000.
Montavilla sits in east Portland along SE Stark Street, where cafes, theaters and independent shops line a walkable business strip. Mt. Tabor Park, a grassy volcanic cinder cone with trails and reservoirs, borders the neighborhood. Rose City Park, a tree-lined district north of Sandy Boulevard, offers quiet residential streets, while Multnomah Village in the southwest has a village center along Capitol Highway.
Interstate 205 and Interstate 84 run close to Montavilla, giving drivers quick routes to PDX and the surrounding suburbs. Downtown Portland sits a short drive west, and the MAX light rail reaches several neighborhoods for commuters. Check the assigned Portland Public Schools boundaries for each address before you commit.
Homes in this collection
12 homes
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Buying in Portland
The questions buyers ask us most about this collection.
Is Montavilla a good neighborhood for first-time buyers in Portland?
Montavilla combines an active SE Stark Street business district with close access to Mt. Tabor Park, which suits buyers who want walkable errands and outdoor space. Many first-time buyers value the mix of older blocks and newer infill housing in the neighborhood. Visit at different times of day to judge traffic and parking on your specific street.
How does Rose City Park differ from Montavilla?
Rose City Park is a residential district north of Sandy Boulevard with a quieter feel and tree-lined streets. Montavilla has more of a commercial strip and a busier street life along SE Stark. Buyers should compare commute routes and daily errands before choosing between them.
How long is the drive from these Portland neighborhoods to downtown?
Downtown Portland is generally a short drive west from Montavilla and Rose City Park, though times vary with traffic and the hour. Transit options such as the MAX light rail give commuters another route. Test your actual commute at rush hour before you make an offer.
What should buyers check when buying new construction in Portland?
Confirm whether the property is a condo, an attached home or a townhome, and whether an HOA applies. Ask about the builder warranty, the mini split heating and cooling system, and the terms of any builder incentives. A home inspection is still worth doing on newly built homes.
Can buyers get a property tax break on new homes in Portland?
The Homebuyer Opportunity Limited Tax Exemption, often called HOLTE, can reduce property taxes for eligible buyers of qualifying new homes in Portland. Eligibility depends on income, purchase price and other program rules. Ask your lender or agent to confirm whether a specific home qualifies.
What is the Portland Housing Bureau SDC exemption?
The System Development Charge exemption is a City of Portland program meant to support affordable new housing. Some listings in this area mention that the list price assumes buyer eligibility for the program. Review the current program rules with the city or your agent before relying on it.